Shares digital

Veterinary services provider CVS (CVSG:AIM) has acquired Axiom Lab, a provider of diagnostic laboratory services to third party veterinary practices, for £4 million.

The acquisition will complement CVS’ diagnostic operations, bringing a strength and specialisation in biochemistry, as well as allergy testing, to its range of services.

Revenues derived from laboratory services are also expected to double thanks to the acquisition. Axiom Lab employs ten vets across three sites and the team will remain with CVS once the deal has completed.

CVS floated last October and has bought more than 40 practices since it was established in 1999. Further acquisitions are likely to be on the agenda. Shares were flat at 237.5p.

Shares says: Although the share price has been volatile so far, growth prospects are promising.